Oppenheimer Sticks to Their Buy Rating for Recro Pharma (REPH)


In a report released today, Leland Gershell from Oppenheimer maintained a Buy rating on Recro Pharma (NASDAQ: REPH), with a price target of $18. The company’s shares closed yesterday at $8.07.

Gershell observed:

“Yesterday’s announcement by REPH that it plans to resubmit its NDA for IV meloxicam by the end of September effectively removes the largest overhang on the stock, in our view, which had been the concern that another Phase 3 trial would be needed for FDA approval. We assume a six-month review, placing potential approval in ~April 2019, an outlook which may prove conservative. Although there is some risk of further delay should the FDA not accept REPH’s proposed labeling language, we believe the company is taking the right steps toward addressing the agency’s concerns as raised in May’s CRL. We maintain our Outperform rating and $18 PT.”

According to TipRanks.com, Gershell is a 3-star analyst with an average return of 16.8% and a 72.7% success rate. Gershell covers the Healthcare sector, focusing on stocks such as Avenue Therapeutics Inc, Evofem Biosciences Inc, and Urogen Pharma Ltd.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Recro Pharma with a $18 average price target.

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The company has a one-year high of $13.05 and a one-year low of $4.78. Currently, Recro Pharma has an average volume of 184.8K.

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Recro Pharma, Inc. is a pharmaceutical company, which engages in the research and development of non-opioid therapeutics for the treatment of acute post operative pain. It operates through the Acute Care, and Contract Development and Manufacturing (CDMO) business segment.

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